🌟 The Essence of Product Management

🎙️ Listen to the full episode here 

📆 Published: December 21st, 2023

🕒 Estimated Reading Time: 2 minutes. Time saved: 92 minutes🔥 

🎯 Theme 1: The Essence of Product Management

In this podcast episode, Christian Idioti, a partner at Silicon Valley Product Group, discusses the real essence of product management. He explains that the job of a product manager is to wake up on behalf of someone else and solve a problem for them. The ultimate goal is to create a solution that customers love and that works for the business. Christian emphasises that if product management is not enjoyable or challenging, then it may not be done correctly.

🤔 Theme 2: Dislike of Product Managers

Christian addresses the trend of people disliking product managers. On brand with his SVPG counterpart Marty Cagan, he believes that this dislike stems from a lack of experience with good product managers. He explains that the core of product management is competency-based, where the product manager represents the customer and has deep knowledge of the customers, users, data, industry, and product. However, when there is a lack of competency in product management, it leads to misplaced influence and mistrust. Christian suggests that product managers need to elevate their discipline and earn the right to make decisions by building relationships, gaining experience, and immersing themselves in a deeper understanding of the business and data.

💡 Theme 3: The Role of Product Managers

Christian discusses the four attributes of a product manager's job: value, usability, viability, and feasibility. He highlights that value is often the most important and overlooked attribute. He explains that product managers need to focus on solving problems in a way that customers love and that works for the business. Christian emphasises that the job of a product manager is to create a solution worth building and to receive a certificate of appreciation in the form of revenue, engagement, loyalty, or references.

🚀 Theme 4: Discovering What to Build

Christian shares his favourite technique for discovering what to build: finding reference customers. He explains that reference customers are people who have used the product and love it enough to recommend it to others. By working closely with reference customers, product managers can validate the problem, uncover a solution, and iterate on the product. Christian recommends finding six to eight reference customers in B2B and 15 to 25 in B2C as an indication of achieving product-market fit.

I wrote a post a few months ago based on Paul Graham’s “Do things that don’t scale” where this was one of the key factors in helping companies grow and scale (see image below and original post here).

Finding your reference customers is key

🎓 Theme 5: The Power of Coaching

Christian is known for his coaching skills, and Marty Cagan describes him as someone who can build trust with executives and product leaders faster than anyone else. Christian believes that coaching is an essential part of leadership and that it is the manager's job to help their reports get better at product management. He emphasises the importance of experiencing good coaching in order to become a better coach. Christian shares an example of how he coached a CEO to communicate effectively with his team and achieve better results.

💪 Theme 6: Practical Tips for Coaching

Christian provides practical tips for becoming a better coach. He suggests immersing oneself in the problem and solution, as well as involving the team in the discovery process. He also emphasises the importance of understanding the difference between what people say and what they do, and using that knowledge to improve coaching techniques. Christian encourages managers to continuously learn and improve their coaching skills.

🧠 What can I do with this as a founder or PM?

As a Product Manager or founder, there are several key takeaways from this podcast episode that you can apply to your role:

  1. Focus on competency and trust: Recognise the importance of building competency in product management and earning the trust of your team and organisation. Seek opportunities to learn from experienced leaders and immerse yourself in a deeper understanding of the business and the customer.

  2. Understand the essence of product management: Remember that the core of product management is solving problems in a way that customers love and that works for the business. Wake up on behalf of someone else to solve a problem for them and strive to deliver value that earns a certificate of appreciation.

  3. Embrace effective coaching: Coaching is an everyday job of managers and leaders. Invest in becoming a better coach by seeking good coaching experiences and learning from them. Build trust, provide guidance, and help individuals and teams improve their performance.

    • The example Christian gave was about a CEO who would scream and curse at his team during meetings. Christian took the CEO aside and asked him why he communicated in that way. The CEO explained that his own boss used to treat him that way and he believed it was effective. Christian then offered an alternative approach to communication and asked for permission to try it with the team. He delivered the same message in a kind and respectful manner, which resulted in the team being more receptive and understanding, and they even identified additional areas for improvement.

      Based on this example and some of my own experiences, here are some tips for founders (or any leader for that matter)

      1. Reflect on your own communication style: Take a moment to consider how you communicate with your team. Are you respectful and kind, or do you resort to aggressive or negative language? Recognise that your communication style sets the tone for the entire organisation.

      2. Seek feedback from your team: Ask your team members how they perceive your communication style and if there are any areas for improvement. Be open to their feedback and take it into consideration when adjusting your approach.

      3. Practice empathy: Put yourself in your team's shoes and try to understand their perspective. Treat them with respect and kindness, and consider how your words and actions may impact their motivation and productivity.

      4. Provide clear and constructive feedback: When addressing issues or giving feedback, focus on specific behaviours or actions rather than attacking individuals. Offer guidance and support to help your team members improve.

      5. Lead by example: Show your team what effective communication looks like by modelling it yourself. Be transparent, open to feedback, and willing to listen to different viewpoints.

      Remember, effective communication is crucial for building trust and fostering a positive work environment. By being a coach and mentor to your team, you can create a culture of open communication and collaboration.

  4. Utilise practical tips and tools: Implement practical techniques such as finding reference customers to uncover valuable insights and build trust. Immerse yourself in the problem space, continuously learn from customers and industry experts, and iterate on your solutions based on feedback.

  5. Do things that don't scale: Don't be afraid to take a hands-on approach and do things that don't scale in the early stages of product development. This can help you gain valuable insights, validate your solutions, and build a strong foundation for future growth.

By applying these principles and techniques, you can enhance your product management skills, build successful products, and create a positive and high-performing environment for your business.

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